In addition to reporting foreign income, the requirement to report foreign bank accounts, assets, businesses, and trusts has increased over recent years, making international tax compliance more important and detrimental if not properly reported on tax returns or informational returns.
While many reporting requirements may not impact an individual’s or business’s income tax return, the failure to properly report foreign assets or income comes with steep penalties.
The US tax system places special emphasis on taxpayer activities outside of the US.
The US tax code has certain filing and taxation rules for US taxpayers pursuing taxable activities outside the US (outbound) and on individuals or companies who are not US persons and are pursuing taxable activities inside the US (inbound).
The rules around taxation and compliance for these taxpayers are quite challenging.
An international tax attorney at The McGuire Law Firm can assist you with your international tax reporting requirements and related issues.
FBAR compliance and consulting. Both current and delinquent.
International forms preparation and review (see list below). Both current and delinquent.
Streamline Compliance Procedures
Delinquent International Information Return Submission Procedures (DIIRSP)
Consulting on tax-efficient international structuring.
We consult on inbound (non-US persons with activity in the US) and outbound matters (US persons
with activities outside the US). Consultation services include tax-efficient structuring of investments inside and outside the US and related US tax compliance.
FBAR
Form 926
Form 965
Form 1042
Form 1042-S
Form 1116
Form 1118
Form 1120-F
Form 2555
Form 5471
Form 5472
Form 5713
Form 8288
Form 8288-B
Form 8621
Form 8802
Form 8804
Form 8805
Form 8813
Form 8832
Form 8833
Form 8854
Form 8858
Form 8865
Form 8938
Form 8990
Form 8992
Form 8993
Form SS-4
Form W-8BEN
Form W-8BEN-E
Form W-8ECI
Form W-8IMY
The US tax international informational filing obligations are not easy. Always consider the assistance of a
qualified professional when making these determinations.
Call The McGuire Law Firm for additional answers to all of your International Tax Attorney questions at (720) 833-7705.
If you are looking for immediate assistance with your specific tax situation, please give us a call to speak with an attorney today.
Free Consultation: (720) 833-7705
John@JMtaxlaw.com Mon – Fri 9:00-5:00